Banking on Social Media

Banking on social media to drive customer loyalty and engagementBernie SegalGlobal Sales Head, Social Media & Software-as-a-Service (SaaS)Bernie_Segal@infosys.com +44 (0) 79 83 430 632

www.infosys.com/iengage 2 Revenue LTM on Sep 30, 2010; Other data as on Sep 30,2010

Quick poll – 1Does your business use social media today?Are you planning to explore or use social media in2011?www.infosys.com/iengage 3

Quick poll – 2 Does your business use social media today to engage and dialogue with customers?www.infosys.com/iengage 4

Social technologyis permanently andprofoundly changing theway we communicateand nowthe way we work.www.infosys.com/iengage

5 emerging trends 1. Owned & paid media Earned media content 2. From websites To the pervasive web 3. Community of members Community of advocates 4. Transactional eCommerce Web 2.0 Commerce 5. Measuring traffic Measuring business valuewww.infosys.com/iengage 6

Social media usage by financial services companies is increasing 1,333 accounts in 68 countries Twitter 1.01 Million followers and 729,000 tweets 261,000 monthly users Facebook 6.3 Million fans Blogs 200+ blogs in 20 countries 190+ channels in 26 countries YouTube 4,500+ video uploads and 1,500+ comments Not surprisingly, people who use online-only banks are strong adopters of social technologies. They are almost twice as likely as average to be Creators and Critics of social contentSource: Visible-Banking.com; February 2010Source: ―Social Media Marketing For Financial Services‖, Forrester Research, Inc., September 7, 2010; www.infosys.com/iengage 7

Engaging with specific audienceswww.infosys.com/iengage 8

Engaging with specific audiences―Women & Co. was born from a womens conference whereone message heard over and over: Women wanted to talkabout money but no one in the financial services industry waslistening.Women have distinct financial realities — we live longer,spend more years in retirement, and are more likely to taketime out of the workforce to tend to our families.We initiated a conversation with women about their financiallives‖.www.infosys.com/iengage 9

2. From websites to the pervasive webwww.infosys.com/iengage 10

Online communities at the heart of the conversation Communities create more structured, intuitive hierarchy Integration with Twitter and Facebook. YouTube etc Recognizing co-creators as Top Participants Polls enabling richer community interactions and inviting contribution Highlighting the buzz Tag cloud for easy search of information Encourage co-creation by showcasing user-generated media www.infosys.com/iengage 11

Plus content on Twitter, Facebook and YouTubewww.infosys.com/iengage 12

The future: curate, aggregate and syndicatebrand related conversations Video Blog PodcastsConversations Press releases Community hub site Photos Location Reviewswww.infosys.com/iengage 13

Marketing 2011 From… Managing assets that you made, in places that you own To… Curating digital assets that you DON’T make, in places that you DON’T ownwww.infosys.com/iengage 14

www.infosys.com/iengageSource: http://www.newsroom.firstdirect.com 15

3. Community of members  Community of advocateswww.infosys.com/iengage 16

www.infosys.com/iengageSource: ―Social Media Marketing For Financial Services‖, Forrester Research,17 September 7, 2010 Inc.,

Providing REWARD points for RELEVANCY www.infosys.com/iengageSource: Jive Software 18

Example social sentiment report: June 2010Source: Visible Intelligencewww.infosys.com/iengage 19

www.infosys.com/iengageSource: ―Social Media Marketing For Financial Services‖, Forrester Research,20 September 7, 2010 Inc.,

The key is to bring crowdsourcing into the product and customer service team internally www.infosys.com/iengageSource: Jive Software 21

Profile data in communities and Facebook is being used for tailored marketing User’s communitiesUser’s profile Similar ProfilesUser’s recent activity User’s Connectionwww.infosys.com/iengage 22

4. Transactional eCommerce  Web2.0 Commercewww.infosys.com/iengage 23

Online is a key part of researching and applying for financial services products Percentage of US online adults who researched online and applied online Six in 10 US online adults who researched a financial product did so online and more than one-third apply online.Source: “Online-Influenced Sales Exceed Direct Sales In Financial Services”, Forrester Research, Inc., November 20, 2009 www.infosys.com/iengage 24

www.infosys.com/iengageSource: Jive Software 25

…and a key part of customer servicewww.infosys.com/iengage 26

Employee social intranets and communities enabling service teams to respondSource: Jive Softwarewww.infosys.com/iengage 27

The tools are now available to move the dialogue inside and outside “Membrane” Employee Community Customer Community Public Can view an Employee Employee Community can view Community where there is discussions in the Public potential to find answers to their Community. questions.www.infosys.com/iengage 28

5. Measuring traffic  Measuring business valuewww.infosys.com/iengage 29

Rich data in social analytics Sentiment Analysis Top Author Analysis Brand Evaluation Volume of Talkingwww.infosys.com/iengage 30

Example business cases • 200,000 new ideas from customers • 50% increase in revenues • $20m benefit pa – sales/advocacy/ideas • New product launch for 10% of the cost • Call centre deflections: Targeting 10 to 30 percentwww.infosys.com/iengage 31

Examples of external social media scenarios Social research: Peer advice when choosing insurance products (e.g. feedback on tradesmen used for claims) Point in my life: Connect and build relationship for key moments (e.g. moving house, buying a car) Goal-setting: help consumers set financial goals, reach their targets and find the best rates for what they want New product community: involve customers to get input and test products before launch Niche communities: offer information and products to targeted communities (e.g. bikers, sailers) Responsible banking: allow customers to influence their corporate social responsibility initiativeswww.infosys.com/iengage 32

Infosys iEngage social engagement platform Social analytics Listening and responding to consumer conversations Content distribution Dialogue Pushing and pulling Engaging two-way content across the social communication with web consumers Content aggregation Community Bringing together relevant Enabling consumers to and useful enterprise connect and interact content Integrated into a secure, enterprise- quality platformwww.infosys.com/iengage 33

Infosys iEngage social engagement services Social media marketing Transactions Customer service• Software as a Service• Strategy Employee• Adoption engagement• Business processes• Return on investmentwww.infosys.com/iengage 34

5 trends and prediction 1. Owned & paid media Earned media content 2. From websites To the pervasive web 3. Community of members Community of advocates 4. Transactional eCommerce Web 2.0 Commerce 5. Measuring traffic Measuring business valuewww.infosys.com/iengage 35

Thank you!Bernie_Segal@infosys.com 07983 430632―The contents of this document are proprietary and confidential to Infosys Technologies Ltd. and may not be disclosed in whole or in part at anytime, to any third party without the prior written consent of Infosys Technologies Ltd.‖―© 2010 Infosys Technologies Ltd. All rights reserved. Copyright in the whole and any part of this document belongs to Infosys Technologies Ltd.This work may not be used, sold, transferred, adapted, abridged, copied or reproduced in whole or in part, in any manner or form, or in any media,without the prior written consent of Infosys Technologies Ltd.‖―Infosys acknowledges the proprietary rights of the trademarks and product names of other companies mentioned in this document.‖

Banking on Social Media

by Infosys on Dec 14, 2010

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Banking on Social Media — Presentation Transcript

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